Client
The client is a trusted provider of data-driven analytical insights that empower businesses, individuals, and communities to strengthen their resilience and sustainability. They offer analytical risk scoring services for underwriting and claims settlement. With a rich heritage dating back to its inception in 1971, the client has been steadfast in its commitment to leveraging data and insights to drive positive change—enabling the protection of people, economies, society, and the environment.
Challenge
To enhance accessibility and streamline operations, the client wanted to integrate with Duck Creek modules. However, this integration meant addressing significant challenges as follows:
- Integration Complexity: The client had to address the complexities associated with integrating analytical risk scoring services into Duck Creek modules. This required careful planning and execution to ensure a seamless integration process.
- Accessibility Enhancement: The client needed to make risk scoring services more accessible, facilitating the ease of use and availability of these services for their underwriting and claims settlement processes.
- Operational Streamlining: The client wanted to streamline their operations to enhance overall operational efficiency.
- OOB Solution Development: The client was focused on developing an out-of-the-box (OOB) solution for their commercial and specialty clientele. Creating such a comprehensive solution meant encountering challenges related to customization, compatibility, and meeting the diverse needs of their customers.
Solution
To meet the evolving needs of our client, Hexaware meticulously crafted a solution that facilitates the integration of risk scoring services into the Duck Creek environment. The key components of our solution include:
- Defining integration hooks for seamless consumption of risk scoring services within Duck Creek.
- Data mapping and transformation in accordance with the Cumulus Design pattern within Duck Creek OnDemand (DCOD).
- Implementing robust API security measures, authentication protocols, and comprehensive error handling.
- Enabling both batch mode and real-time integration calls to seamlessly access scoring services.
- Ensuring modularity in the service call and response, tailored to the specific context of each invocation.
Benefits
Our solution yielded a multitude of benefits, including:
- Reduced development time through OOB integration that accelerates onboarding for new DCOD customers.
- 100% automation of risk scoring, facilitating Straight-Through Processing (STP) in underwriting and claims processing.
- 75% reduced processing time for underwriting and claims settlement through the availability of ready-made integrations.
This strategic collaboration exemplifies our unwavering commitment to delivering innovative, efficient, and value-driven solutions to meet the ever-evolving needs of the insurance industry.
Summary
In partnership with Hexaware, a data-driven insights provider, integrated risk scoring services into the Duck Creek Platform, overcoming challenges of integration complexity and efficiency enhancement. The solution led to reduced development time, achieved 100% risk scoring automation, and reduced processing time by 75% for underwriting and claims.
